Income Taxes (Tables)

12 Months Ended

Oct. 31, 2020

Income Tax Disclosure [Abstract]

Reconciliation of Company's effective tax rate from federal statutory rate

The following table provides a reconciliation of our effective tax rate from the federal statutory tax rate for the fiscal years ended October 31, 2020, 2019, and 2018 ($ amounts in thousands):

	2020		2019		2018
	$	%*	$	%*	$	%*
Federal tax provision at statutory rate	123,249	21.0	165,306	21.0	217,914	23.3
State tax provision, net of federal benefit	25,793	4.4	37,898	4.8	47,073	5.0
Domestic production activities deduction	—	—	—	—	(18,168)	(1.9)
Other permanent differences	4,755	0.8	4,866	0.6	(2,322)	(0.2)
Reversal of accrual for uncertain tax positions	(1,749)	(0.3)	(5,348)	(0.7)	(4,741)	(0.5)
Accrued interest on anticipated tax assessments	404	0.1	453	0.1	737	0.1
Increase in unrecognized tax benefits	—	—	2,153	0.3	1,122	0.1
Changes in tax law	—	—	(523)	(0.1)	(38,740)	(4.1)
Excess stock compensation benefit	(3,339)	(0.6)	(2,143)	(0.3)	(4,236)	(0.5)
Energy tax credits	(11,467)	(2.0)	(3,123)	(0.4)	(3,231)	(0.4)
Other	2,631	0.5	(2,376)	(0.3)	(9,643)	(1.0)
Income tax provision*	140,277	23.9	197,163	25.0	185,765	19.9

*    Due to rounding, percentages may not add

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

The following table provides information regarding the provision (benefit) for income taxes for each of the fiscal years ended October 31, 2020, 2019, and 2018 (amounts in thousands):

	2020		2019		2018
Federal	$	114,204	$	161,904	$	157,836
State	26,073		35,259		27,929
	$	140,277	$	197,163	$	185,765
Current	$	42,497	$	94,399	$	207,695
Deferred	97,780		102,764		(21,930)
	$	140,277	$	197,163	$	185,765

Schedule of Components of Income Taxes Payable [Table Text Block]

The components of income taxes payable at October 31, 2020 and 2019 are set forth below (amounts in thousands):

	2020		2019
Current	$	6,591	$	7,897
Deferred	192,383		95,074
	$	198,974	$	102,971

Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block]

The following table provides a reconciliation of the change in the unrecognized tax benefits for the years ended October 31, 2020, 2019, and 2018 (amounts in thousands):

	2020		2019		2018
Balance, beginning of year	$	7,897	$	12,222	$	16,993
Increase in benefit as a result of tax positions taken in prior years	512		2,148		2,140
Increase in benefit as a result of tax positions taken in current year	306		1,126		949
Decrease in benefit as a result of settlements			(2,670)		(4,707)
Decrease in benefit as a result of lapse of statute of limitations	(2,124)		(4,929)		(3,153)
Balance, end of year	$	6,591	$	7,897	$	12,222

Tax Benefits potential interest and penalties

The following table provides information as to the amounts recognized in our tax provision, before reduction for applicable taxes and reversal of previously accrued interest and penalties, of potential interest and penalties in the fiscal years ended October 31, 2020, 2019, and 2018, and the amounts accrued for potential interest and penalties at October 31, 2020 and 2019 (amounts in thousands):

Expense recognized in the Consolidated Statements of Operations and Comprehensive Income
Fiscal year
2020	$	512
2019	$	593
2018	$	1,152

Accrued at:
October 31, 2020	$	1,270
October 31, 2019	$	1,169

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

The components of net deferred tax assets and liabilities at October 31, 2020 and 2019 are set forth below (amounts in thousands):

	2020		2019
Deferred tax assets:
Accrued expenses	$	57,089	$	54,162
Impairment charges	42,956		43,583
Inventory valuation differences	48,276		55,313
Stock-based compensation expense	19,905		23,928
Amounts related to unrecognized tax benefits	319		311
State tax, net operating loss carryforwards	68,705		67,718
Other	1,830		18
Total assets	239,080		245,033
Deferred tax liabilities:
Capitalized interest	37,697		44,196
Deferred income	351,589		277,005
Expenses taken for tax purposes not for book	5,346		3,571
Depreciation	23,567		5,024
Deferred marketing	13,264		10,311
Total liabilities	431,463		340,107
Net deferred tax liabilities	(192,383)		(95,074)